Renting a House

Depending on your financial status and source, there could be numerous advantages and disadvantages of renting a house

Pros of Renting a House

Inexpensive – Obviously, buying a house is costly than renting one. Renting doesn't include the mortgage payment. Better flexibility – You are more open to choices and opportunities when renting. Your living depends on the contract. If you are a frequent traveler renting is the answer. Fewer responsibilities – It is your landlord’s responsibility to maintain and repair house. Values of houses fluctuate according to the economic conditions of the country. But if you are a renter, congratulations it’s not your problem.

Cons of Renting a House

No Equity – No equity over time is enjoyed by renters.Also, the rents increases with time. You will not be living on the same price that you have been giving to your landlord.

No Stability - Well your landlord can ask you to leave any time he wants. Although there is a contract that you sign before renting a house but it is landlord’s property so he makes the rules.

No tax benefits are provided

Limitations of security - You don't know your neighbors or the neighborhood. Also you have no idea who lived in the house before you move in.

Housing cost fluctuates

Well the moral of the story is that sometimes-renting work in your favor and other times buying. Rather making spontaneous decisions about getting a house, give both sides of renting and buying a house a thorough and deep analysis.

Renting the house or buying it, there is a lot to think of before making a decision. Get professional’s guide regarding all renting and buying issues.

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